Amazon.com Inc said on Thursday it will invest more than $10 billion to build a network of 3,236 satellites that will provide high-speed broadband internet services to people around the world who lack such access.
) said on Thursday it will invest more than $10 billion to build a network of 3,236 satellites that will provide high-speed broadband internet services to people around the world who lack such access.
The announcement follows the Federal Communications Commission’s approval of the plan, called “Project Kuiper”, for the constellation of low-Earth orbit satellites that will compete with the Starlink network being built out by Elon Musk’s SpaceX. It also comes on the heels of Amazon posting its biggest profit in its 26-year history. [nL3N2F15PH]
The project will also benefit wireless carriers deploying 5G and other wireless service to new regions, Amazon said. SpaceX President Gwynne Shotwell, who in February floated the idea of spinning Starlink off for an IPO in the coming years, has said the Starlink constellation will cost the company roughly $10 billion.
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